Neuberger Berman launches Ucits absolute return multi-strategy fund

Neuberger Berman has announced the launch of the Neuberger Berman Absolute Return Multi-Strategy Fund (ARMS), following that of the US regulated version in May 2012.

The multi-manager product targets positive absolute returns with low market exposure, through diversified allocations to proven hedge fund strategies. At the same time, it addresses the structural drawbacks of hedge fund investing through a client-friendly Ucits vehicle.

“The structure offers investors key features such as daily dealing, no performance fees at any level, a capped total expense ratio, high levels of transparency and control of assets through the exclusive use of managed accounts,” Neuberger Berman said.

The fund will be managed by Neuberger Berman’s alternative investment management group, with over 35 staff and a track record of hedge fund investing of more than 11 years, backed up by independent firm risk management and operational functions.

Fred Ingham, co-portfolio manager for the Neuberger Berman Absolute Return Multi-Strategy Fund said: “In the current environment of low bond yields and longer term inflation risk, as well as uncertain equity valuations, hedge funds can offer a particularly attractive alternative, with the ability to benefit from rising rates, as well as from increasing dispersion in global equity markets.”

Dik van Lomwel, head of Neuberger Berman EMEA and LatAm said: “We wanted to offer clients the opportunity to re-engage with hedge funds at an opportune time, but within a structure which directly tackles the historic drawbacks of cost, liquidity and transparency.”

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